Refund to the State more than 66.5 billion VND in costs for potential assessment and mineral exploration

*Deputy Minister of Natural Resources and Environment Tran Quy Kien chaired the meeting.*

Reporting on the results of determining the cost of assessing the mineral potential that must be reimbursed due to the state's investment in the kaolin-feldspar mine in Yen Thai commune, Van Yen district and Bao Dap commune, Tran Yen district, Yen Bai province, Mr. Tran Minh Son, Mineral Information and Data Center (Center), Vietnam Minerals Department said: The Center has collected all relevant documents; classified, processed and analyzed the collected documents.

The calculation results are accurate, correctly and objectively reflecting the amount of money the state has invested in a number of geological works to assess the mineral potential in the area licensed for kaolin-feldspar mining.

With the above calculation results, Deputy Minister of Natural Resources and Environment Tran Quy Kien and the Council members approved the amount of about 2.08 billion VND that Phuoc Thanh Trading and Service Company Limited must pay to the State budget to invest in a number of geological construction items for the assessment of mineral potential at the kaolin-feldspar mine within the area of the mineral exploitation license application dated February 20, 2023 of this Company.

*Mr. Ngoc Thai Hoang, Deputy Director of the Department of Natural Resources and Environment of Quang Ninh province, spoke at the meeting.*

Reporting on the results of determining the cost of mineral exploration that must be reimbursed due to the state's investment in Cao Son coal mine in Mong Duong ward, Cam Tay, Cam Dong, Cam Son, Cam Pha city, Quang Ninh province, Mr. Nguyen Viet Bao, Mineral Information and Data Center, Vietnam Minerals Department said that the project to renovate and expand the capacity of Cao Son coal mine was proposed for a mining license based on the reserves of the coal exploration results report at Khe Cham mine, Mong Duong ward, Cam Pha city, Quang Ninh province, which was approved by the National Mineral Reserves Assessment Council with coal reserves of about 266.8 million tons.

In the process of performing its tasks, the Mineral Information and Data Center has received effective cooperation from the Vietnam Minerals Department, the Vietnam Geological Survey and Cao Son Coal Joint Stock Company. Mr. Nguyen Viet Bao thanked them for their enthusiastic and valuable cooperation and support.

Speaking at the meeting, Mr. Ngoc Thai Hoang, Deputy Director of the Department of Natural Resources and Environment of Quang Ninh province, said that Cao Son Coal Joint Stock Company - TKV needs to review and calculate the value of the investigation project to assess mineral reserves appropriately according to Decision 04/2018/QD-TTg of the Prime Minister on promulgating regulations on methods for determining mineral potential assessment costs, mineral exploration costs that must be reimbursed, and reimbursement methods; regulations on the collection, management, and use of mineral potential assessment costs and mineral exploration invested by the State.

For this report, Deputy Minister Tran Quy Kien and the Council members agreed with the mineral exploration costs that Cao Son Coal Joint Stock Company - TKV must repay because the state invested in the application for a mineral exploitation license on June 16, 2023, about 64.43 billion VND.

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